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Think IoT to Stay Ahead

“I encourage more local companies, SMEs and start-up technopreneurs to explore the adoption and implementation of IoT as a means to add value in their products and services as well as to increase productivity and efficiency towards scaling up their businesses,” said the Minister of MITI .

16 November
2017, Kuala Lumpur – YB Dato’ Mustapa Mohamed, Minister of International Trade
and Industry today called on local companies and small and medium-sized
enterprises (SMEs) to consider the Internet of Things, or IoT solution as a
tool to drive growth.

“I encourage more local companies, SMEs and
start-up technopreneurs to explore the adoption and implementation of IoT as a
means to add value in their products and services as well as to increase
productivity and efficiency towards scaling up their businesses,” said the
Minister of MITI at the seminar on IoT
Malaysia 2017 co-organised by the Malaysian Investment Development Authority
(MIDA) and Intel today at MITI.

The holding of this seminar is timely and relevant as the world has come
to an era which calls for a digital transformation. IoT, which is a component
of Industry 4.0 is no longer just a futuristic concept but is actually happening
now and is already transforming every aspect of people’s lives.

Realising that IoT holds tremendous potentials that cut across all
industries in the world, the Minister urged industry players to seize the
growing opportunities. “Industry players need to change the way they do
business, to align to emerging IoTs and Industry 4.0 applications.”

This call is in line with the government’s direction to make Malaysia
the leading industrial hub for high technology products and activities in the
ASEAN region.

“Malaysia is privileged to have good engineering capabilities, skilled
workforce and a strong manufacturing base. These create an enabling structure
towards materialising this important agenda. Global companies and MNCs are
welcome to make Malaysia as their regional development hub for high technology
products and activities in the region.
At the same time, we look forward to more high quality investments, both
from domestic and foreign sources, particularly in related catalytic sectors
such as electrical & electronics (E&E) and machinery & equipment
(M&E),” said the MITI Minister.

Recognising the challenges that companies go through in the execution of
Industry 4.0, particularly in filling the gaps in the country’s IoT ecosystem, the
Minister sees the need to form strong partnerships between the government, the
industry players and all the other stakeholders.

The Minister also reiterated that “Many SMEs are capable of developing
the supporting technologies such as chip packaging technology,
Micro-Electro-Mechanical Systems (MEMS) and high technology electronic
components, but they just have not had access to the right IoT platform. This
is where MNCs can play a strong role to support local companies and SMEs to
grow. If MNCs can give SMEs a helping hand, just like what Intel is doing
today, local companies and SMEs can leverage on the established IoT platforms
of these MNCs,” he added.

The seminar ran for a full day, and addressed topics such as the IoT
Landscape in the World, IoT Success Case Studies and Market Segment Readiness
for IoT. It was attended by more than 800 participants from various industry
sectors.

The seminar was being held in conjunction with the 50th anniversary of
MIDA. It also marked Intel’s continuous efforts towards further developing
Malaysia’s economic growth. In his speech, the Minister highlighted that “Intel
has contributed much to the development of Malaysia’s economy. It has been at
the forefront in driving the country’s industrial development, particularly in
the E&E sector.”

MIDA is the
government's principal promotion agency under the Ministry of International
Trade and Industry (MITI) to oversee and drive investments into the
manufacturing and services sectors in Malaysia. Starting operations in 1967
with a relatively small set up of 37 staff, MIDA has grown to become a strong
and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur
Sentral, MIDA today has 12 regional and 23 overseas offices. This year as the
organisation celebrates its 50th anniversary, MIDA continues to be the
strategic partner to businesses in seizing the opportunities arising from the
technology revolution of this era. Find out more at www.mida.gov.my